ExlService Holdings (Nasdaq:EXLS), a leading provider of outsourcing and transformation services announced that it has closed the acquisition of American Express' Global Travel Service Center (GTSC) operations on March 1, 2010.
In conjunction with the closing, EXL is pleased to commence delivering service for American Express under a new eight-year agreement to service American Express Business Travel's back-office and estimates achieving more than $160 million in revenues over the life of the contract. Through this transaction, EXL will deepen its relationship with one of its key strategic clients as well as expand its capability set in analytics, exception processing, and transaction processing. This acquisition also adds a highly experienced management team with leading travel domain expertise and an additional world-class delivery center to EXL.
Rohit Kapoor, CEO and President of EXL stated: "We are excited to have the GTSC employees join us and look forward to them expanding their careers within the EXL family. Their experience and domain expertise within the travel vertical is a tremendous asset that we plan to leverage to acquire new clients as well as continue to deliver value to American Express. We have already made great strides in the integration of the business and look forward to executing on the numerous opportunities for market growth and acquiring the unique position of a 'category killer' in the travel industry vertical."
Julie Bottner, Senior Vice President and General Manager, American Express Global Business Travel Service Delivery stated: "The partnership with EXL to support our business travel back-office gives us the flexibility to support evolving customer needs. The partnership enables us to leverage our scale, continue our commitment to service excellence, while creating more efficiency, and therefore value, in business travel."
GTSC was established in 2009 by American Express through the integration of travel focused processes from different units and brings in over 14 years of domain knowledge. GTSC services more than 20 markets across 33 different products.
With this acquisition in Gurgaon, India, EXL now has 14 world-class delivery sites located across India, Philippines, Czech Republic and Romania.